PBOC sets USD/CNY reference rate at 6.7910 vs. 6.7990 previous
Summary:USD/CNY slipped below 6.78 after the People's Bank of China set another stronger-than-expected daily fixing, reinforcing support for the Chinese yuan. Markets see the PBOC allowing gradual yuan appreciation while avoiding excessive volatility through its daily reference rate and liquidity operations.
PBOC sets USD/CNY reference rate at 6.7990 vs. 6.7972 previous
PBOC sets USD/CNY reference rate at 6.7972 vs. 6.7989 previous
The US Dollar to Chinese Yuan (USD/CNY) exchange rate is trading around 6.78 after retreating steadily through 2026, with the Yuan continuing to outperform many major currencies. Westpac expects the Renminbi to strengthen further over the next two years, forecasting USD/CNY will fall to 6.75 by September, 6.70 by year-end and eventually.
PBOC sets USD/CNY reference rate at 6.7989 vs. 6.8036 previous
The Chinese Yuan has remained resilient against the US Dollar despite a stronger Greenback, with USD/CNY holding close to 6.80 as investors weigh China's domestic policy support against robust US economic data. Goldman Sachs believes the Yuan's resilience reflects structural changes within China's economy rather than.
PBOC sets USD/CNY reference rate at 6.8036 vs. 6.8077 previous
PBOC sets USD/CNY reference rate at 6.8054 vs. 6.8066 previous
PBOC sets USD/CNY reference rate at 6.8066 vs. 6.8047 previous
PBOC sets USD/CNY reference rate at 6.8047 vs. 6.8088 previous
PBOC sets USD/CNY reference rate at 6.8088 vs. 6.8067 previous